FIGS Sees Unusually High Options Volume (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) was the recipient of some unusual options trading on Friday. Stock investors purchased 22,254 call options on the stock. This is an increase of 1,938% compared to the average volume of 1,092 call options.

Analyst Ratings Changes

FIGS has been the subject of several research analyst reports. Weiss Ratings downgraded shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Morgan Stanley increased their price objective on shares of FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. KeyCorp restated an “overweight” rating on shares of FIGS in a research note on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of FIGS in a research report on Friday, April 24th. Finally, Zacks Research downgraded FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.93.

Insider Activity at FIGS

In other news, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total value of $338,145.01. Following the completion of the sale, the chief financial officer owned 1,129,791 shares in the company, valued at $16,189,905.03. The trade was a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the transaction, the chairman owned 1,433,807 shares in the company, valued at $20,546,454.31. The trade was a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FIGS

Large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after purchasing an additional 1,144,962 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of FIGS by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock worth $29,549,000 after purchasing an additional 70,660 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of FIGS by 66.2% in the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after purchasing an additional 1,712,610 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of FIGS by 167.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock valued at $60,118,000 after purchasing an additional 2,546,905 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FIGS by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock valued at $33,608,000 after buying an additional 145,270 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

FIGS stock remained flat at $10.32 during midday trading on Friday. 2,039,342 shares of the company’s stock were exchanged, compared to its average volume of 3,317,668. The firm has a 50 day simple moving average of $11.39 and a two-hundred day simple moving average of $12.64. FIGS has a fifty-two week low of $5.84 and a fifty-two week high of $17.48. The firm has a market capitalization of $1.72 billion, a P/E ratio of 46.91 and a beta of 1.01.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. FIGS’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities research analysts anticipate that FIGS will post 0.26 earnings per share for the current year.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.